The Future of Chatbots and Conversational AI in 2020

by August 10, 2020

Convensional AI

AI has reached a stage where humans can effortlessly speak to Conversational AI Chatbots.

The Golden age of conversational artificial intelligence (AI) is here. Conversational bots or simply put chatbots have applications that range from customer-facing AI assistants, support chatbots, skill chatbots, assistant bots, and transactional bots. The interest of business in this segment is rampant with the huge investments in this emerging technology by governments, healthcare institutions, manufacturing enterprises and so on.

Conversational Chatbots are leveraging the power of conversational AI to improve their customer experience, and thereby increase the shareholder returns.

 

Conversational AI Platform and Technology Upgrades

Technology grows with time, and it just gets better and better day by day changing on an almost daily basis and often it becomes difficult for enterprises to keep up with this pace of change!

Integrated with Artificial Intelligence and Conversational Intelligence the modern chatbots are classified into

• Voice conversational interface.

• Text conversational interface.

What the Future holds for this Exciting Technology? Here are the snippets that explain the future of Chatbots and Conversational AI in the 21st Century-

 

• Customer Interaction Powered by Conversational AI

The role of conversational AI is changing and so are the bots that power it. From answering simple queries to comprehending complex requests expect chatbots to be seen in every domain of modern enterprises. For instance,  Generali, the third-largest insurance company in the world, saved US$1 million in its first year of deployment of a customer-facing cognitive assistant. This chatbot leverages NLP (natural language processing) to convert customer voice queries to text queries, handling and answering the initial queries about home and auto insurance policies and claims.

 

• Agent-supporting AI assistants

In the coming times, AI assistants backed by Conversational AI platforms will help human customer service agents with internal support while they interact with customers. A good example would be seen in the BFSI industry where chatbots would help bank professionals to open a customer’s account by asking the agents to manually fulfil all the AOP requirements like KYC checks, and collecting proof of address and income details.

 

• Conversational Bot for Critical Functions

In the future, expect AI technologies to be deployed in critical lifesaving functions that include elderly care, assisting in life-saving operations and helping with disaster management. Expect a long-term friendship between humans and Conversational AI Platforms to work together for the betterment of business and mankind.

In a crux, Conversational AI is still at its nascent stage and is poised to play a vital role in the development of how humans will interact with machines in the exciting times ahead. The development of NLP and Deep learning will open a gamut of opportunities for the chatbot platforms to interact and become a new face of development for the betterment of the world.

So, what do you think about the conversational AI future?